Other Markets - Bullion Markets
Gold continues uphill amid economic uncertainty As on : 26-Sep-24  14:59

Gold futures are rallying back toward recent all-time highs as market participants evaluate the extent of expected rate cuts from the Federal Reserve. This follows a 50 bps cut earlier this month, with Fed officials signaling a more measured approach to future adjustments. Geopolitical tensions, particularly the escalating violence in the Middle East, have also bolstered gold's appeal as a safe haven asset. Investors are closely watching key US macroeconomic data, including the PCE report, Q2 GDP, and durable goods orders, to gauge the economic outlook. Additionally, all eyes are on Fed Chair Powell's upcoming remarks, which could offer further insight into monetary policy. On the MCX, October bullion futures advanced by Rs 172, trading at Rs 75,485 per 10 grams.

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